Infinity Pharmaceuticals: Soars after FDA grants "fast track" status to cancer drug

Infinity Pharmaceuticals

25/03/2020 12:48

** Shares of drug developer  INFI.O  surges 28.7% to $1.12
premarket
    ** U.S. FDA grants "fast track" designation to INFI's
experimental drug candidate, IPI-549, along with Bristol Myers
Squibb Co's  BMY.N  Opdivo for treatment of advanced bladder
cancer
    ** Fast track is an FDA process designed to facilitate the
development and expedite the review of drugs to treat serious
conditions and fill an unmet medical need
    ** IPI-549 in combination with Opdivo is currently being
tested in a mid-stage study in patients with advanced bladder
cancer
    ** Up to Tuesday's close, shares had lost ~9% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))